First Horizon price target raised to $24 from $23 at Truist

Truist raised the firm’s price target on First Horizon (FHN) to $24 from $23 and keeps a Hold rating on the shares as part of a broader research note updating the firm’s models on U.S. Banks. The firm is reducing its revenue estimate in FY26, embedding more conservative assumptions around fees and net interest income growth, though offsetting this, Truist is also reducing its FY26 expense estimate following the management’s recent forecast that costs could be flat next year, the analyst tells investors in a research note.